President Ruto set to officiate Ksh.12bn Mombasa SEZ project
President Ruto is set to launch a Ksh.12 billion Special Economic Zone (SEZ) in Mombasa, developed by the Gulfcap Group. The project aims to boost the local economy by creating nearly 8,000 direct jobs and attracting 67 companies to the industrial hub.
Why it matters
This large-scale infrastructure investment is a significant step for Kenya's industrialization and trade logistics capacity in the East African region.
The Gulfcap Group is chaired by businessman Suleiman Shahbal, who is also an MP at the East African Legislative Assembly (EALA).
The agreement, which represents an investment of more than US$100 million, will be signed at State House, Nairobi today, marking a major milestone in efforts to establish a large-scale industrial hub at the Coast.
According to Gulfcap Group, the project is expected to create 7,972 direct jobs, with additional employment and business opportunities expected to emerge around the development.
“This is a first of its kind project. It’s something that I have chased over the past 15 years and finally today we have achieved it. I am delighted because of the impact this project will have on Mombasa's economy,” said Mr Shahbal ahead of the launch.
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